Compare 9Remit International settlement service with PSP units in Vietnam

As Vietnam's economy continues its global integration, the demand for sophisticated international payment solutions will only grow. 9Remit's position as a specialized international settlement provider makes it an attractive option for businesses looking to optimize their cross-border payment strategies while maintaining regulatory compliance and cost efficiency.

1. Understanding PSP Units in Vietnam

Payment Service Providers (PSPs) in Vietnam serve as essential bridges between merchants, financial institutions, and payment networks. Licensed and regulated by the State Bank of Vietnam (SBV), these entities facilitate electronic transactions while ensuring compliance with local financial regulations.

Key functions of Vietnamese PSPs:

• Transaction Processing: Managing payment flows between customers and merchants
• Merchant Services: Providing payment gateways and POS systems
• Risk Management: Implementing fraud detection and prevention measures
• Regulatory Compliance: Ensuring adherence to SBV requirements and anti-money laundering protocols
• Settlement Services: Facilitating fund transfers between parties

The Vietnamese PSP market includes established players like 9Pay, NAPAS, VNPay, Momo, ZaloPay, OnePay, FinFan, and traditional banking institutions that have expanded their digital payment offerings. While these providers excel in domestic transactions, international settlement capabilities often present unique challenges.

2. Overview of 9Remit – International Settlement Service by 9Pay

2.1 Who is 9Remit?

9Remit represents 9Pay's strategic expansion into international payment solutions, specifically designed to address the growing demand for cross-border settlement services in Vietnam. As a specialized division of 9Pay, 9Remit leverages advanced financial technology to provide seamless international money transfer and settlement services.

Built on a foundation of regulatory compliance and technological innovation, 9Remit positions itself as a bridge between Vietnamese businesses and the global financial ecosystem. The service combines local market understanding with international payment infrastructure to deliver comprehensive cross-border solutions.

2.2 Why 9Remit?

The emergence of 9Remit addresses several critical pain points in the Vietnamese international payment landscape:

Regulatory Expertise: Deep understanding of both Vietnamese and international financial regulations ensures compliant cross-border transactions. This expertise becomes particularly valuable as businesses navigate complex compliance requirements across multiple jurisdictions.

Technology Integration: Advanced API infrastructure enables seamless integration with existing business systems, reducing implementation time and technical complexity. Real-time transaction tracking and automated reporting features enhance operational efficiency.

Competitive Pricing: Transparent fee structures and competitive exchange rates make international settlements more cost-effective compared to traditional banking channels. This pricing advantage becomes particularly significant for high-volume transactions.

Speed and Reliability: Optimized processing times ensure faster settlement compared to conventional international transfer methods. The robust infrastructure minimizes transaction failures and delays.

2.3 9Remit Core Services

• International Money Transfers

Facilitating secure, fast transfers between Vietnamese entities and international partners with real-time tracking capabilities.

• International E-commerce Platforms

9Remit simplifies both inward and outward remittance for sellers on international e-commerce platforms in Vietnam. It offers fast settlement (24 business hours), multi-currency support, competitive FX rates, and full regulatory compliance. Designed for SMEs and high-volume sellers alike, 9Remit enables seamless integration via API, helping Vietnamese and global merchants manage cross-border payments efficiently and legally. It’s a trusted partner for e-commerce growth beyond borders.

• Trade Finance Solutions

Supporting import/export businesses with specialized payment solutions that align with international trade requirements.

3. Strengths of 9Remit Compared to Other PSP Companies

Specialized International Focus

While traditional PSPs in Vietnam excel at domestic transactions, 9Remit's dedicated focus on international settlements provides distinct advantages. This specialization translates into deeper expertise in cross-border regulations, currency management, and international banking relationships.

Advanced Technology Infrastructure

9Remit's modern technology stack supports real-time processing, comprehensive reporting, and seamless integration capabilities. The platform's architecture is specifically designed for international transactions, ensuring optimal performance and reliability.

Regulatory Compliance Excellence

International money transfers require adherence to complex regulatory frameworks across multiple jurisdictions. 9Remit's specialized compliance infrastructure ensures transactions meet all necessary requirements, reducing the risk of delays or rejections.

Competitive Cost Structure

By focusing specifically on international settlements, 9Remit can offer more competitive pricing structures compared to traditional PSPs that treat international transfers as secondary services. This cost advantage becomes particularly significant for businesses with regular international payment needs.

Customer Support Specialization

We have a team of experts available 24/7. 9Remit's support team possesses specialized knowledge in international payment issues, providing more effective assistance compared to general PSP support teams that handle various payment types.

4. Making the Right Choice for Your Business

The decision between 9Remit and traditional PSPs depends on your specific international payment needs. Businesses with regular cross-border transactions, complex compliance requirements, or high-volume international settlements will likely benefit from 9Remit's specialized approach.

For organizations seeking cost-effective, reliable, and compliant international payment solutions, 9Remit's focused expertise and modern infrastructure provide compelling advantages over traditional PSP offerings. The service's dedication to international payments ensures that businesses receive the specialized support and advanced capabilities necessary for successful cross-border operations.